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If you find it tough to manage your money payday to payday, then don’t worry you’re not alone. From students using student loans to help make payments and young professionals trying to stay on top of rent month to month, many people in the UK find it difficult to manage their finances. However, do not worry, here are a few easy tips that could help you.

Track your spending. The first place to start is to know exactly what your income and outgoings are on a monthly basis. There are many apps and services out there today, which will help you see what you’ve got coming and what is going out. Once you know your budget you can start prioritising your expenses.

Check if you are on the Standard Variable Tariff. Ofgem figures in 2016 showed that two in three UK households are on their supplier’s standard variable tariff, which is often more expensive than other tariffs. See if you can change tariff, or use a service such as Huru to keep an eye on your tariff for you, to keep your costs down.

Negotiate better deals. Check what your regular expenses are and see if you can negotiate better deals. Telecom companies are notorious for offering better deals to customers who are threatening to leave. So get on the phone and tell your internet or telephone company you are leaving. You could come away with a big win!

Set payment plans. Irregular and unexpected bills can make it really difficult to manage your finances. Water companies are notoriously difficult for this when they send you quarterly or six monthly bills which often come out of the blue. All water companies in the UK should offer you the option to choose a payment plan though, or you can use a service like Huru which will automatically manage your payments for you and aim to break down your costs in to easily manageable monthly payments.

Start a savings plans. Setting a small amount of your money aside on a regular basis is the best way to manage your finances so that you aren’t caught out from bills in the future. The best way to start is to make a plan that is manageable and achievable. Aim to save a small percentage of your money every month in an ISA of savings account. This will help build the habit that will help you out in the future.

Finally treat yourself. That’s right, treat yourself every so often to something special. Constantly budgeting will just make you want a treat even more and make it harder to stick to your plan. So, don’t be afraid to spend money on something that is important to you, whether that’s going to see your team play, going for a nice dinner or spending time with friends.

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